First house bought, now onto an investment! Advise?!

6 Replies

Hey guys!

I'm a long time lurker here on BP that has always wanted to get into real estate investing. I figured my first step in getting into real estate would be to buy a house to live in first. Now that's done, it's time to move onto my first investment property.

I've done a good amount of research, but still feel a little apprehensive about jumping in and making that first purchase. Fear of getting a bad deal that produces negative cash flow for my first deal would big the biggest thing holding me back. Therefore, my first deal has to be as perfect as can be and have some positive cash flow that I can hold in a retained earnings account for future capital expenditures. 

Anyone have any advice on getting over this minor hurdle?

Since I live in beautiful Orange County, CA I would ideally like to invest here, but it is way to expensive and I can not come up with the funding. My next option that I am considering is investing in Riverside, CA and renting out to students near to UCR.

Does anyone know of any meet-ups out in Inland Empire or Riverside, CA area? I would also love to connect with anyone investing in that area. Thanks for the read guys!

check out www.biggerpockets.com/show37

I'm pretty sure he talks about a meet up in the ie  

good luck!

Brett Synicky, Real Estate Agent in CA (#01956059)

@Shane H.   Welcome to BP.  I would suggest checking out the local meet-up mentioned by David.  If you would like to get together and discuss investing let me know.  I am currently working on a flip in Anaheim, but can meet anytime after 5pm or at the property during the day.  Let me know.

@David Ferrette Thanks for the MeetUp info! I have yet to go to a meet up, but think think it would be a great place to network.

@Brett Synicky I'll have to download that podcast. I usually listen to them at the gym. Thanks for the info!

@Joe Homs I would love to check out your flip in Anaheim and pick you brain a little about real estate! I'm working some weird overnight hours next week, so meeting up in the afternoon would work best for me. I'll shoot you a text!

Thanks for the read guys, hope everyone is having a good 4th!

@Brett Synicky just finished show 37... amazing! Aaron is doing exactly what I want to be doing. Great podcast. Thanks again for the resource!

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